Sze’s Azentus Fund Down 6.8% In 2011

Jan 10 2012 | 10:04am ET

Former Goldman Sachs trader Morgan Sze’s Azentus fund, launched to great fanfare last April, lost 6.8% in 2011.

Reuters, citing two sources with “direct knowledge of the matter,” says the Hong Kong-based multi-strategy fund was hit by a sharp drop in Chinese shares.

Sze launched the fund with about $1 billion in April 2011, the largest Asia launch of the year. Azentus now manages $1.9 billion.

Reuters’ sources say Sze’s fund did well for the first six months of 2011 before coming to grief in September, mostly due to its Chinese exposure, as Chinese stocks measured by the MSCI China Index shed 20%. Most of its losses came from investments in Chinese stocks listed in the U.S.

The fund was down 1.4% in December and 1.7% a month earlier, says the news agency, and begins 2012 with 120% gross exposure (the sum of its long and short positions).


In Depth

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Nicky Hilton To Wed James Rothschild

Aug 20 2014 | 5:23am ET

When it comes to husband-material, socialite Nicky Hilton is sticking with finance...

Guest Contributor

Looking Ahead: What’s In Store For Managed Futures?

Aug 22 2014 | 12:52pm ET

The last five years were phenomenal for investors in equity indices. Will the next...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note